SE-A-7709649-3 describes a corrosion resistant coating composition, particularly for external rust protection of vehicle chassies, which composition consists of a polyurethane polymer, waste rubber, water free black coal tar, zeolitic drying agent. This composition fulfills generally its object, but has some disadvantages by strongly smelling of black coal tar, which prevents it from being used in more restricted spaces, and means that well ventilated spaces are required for application, as well. Further, the black coal tar leads to the fact that the coating obtains a black colour, which often may not be of importance, but as often is not acceptable, therefore one demands in stead a pigmented product with a colour pigment by choice. Besides these drawbacks, which are of a certain cosmetic nature, one often requires a still higher wearing resistance, resistance against attach by chemicals, particularly in alkaline environment, and temperature stability.